Justin Sun is facing renewed scrutiny after a woman claiming to be his former girlfriend accused him of orchestrating large-scale manipulation of TRX prices during the token’s early years.
The accuser, identifying herself as Ten Ten, alleged Sun directed employees to open multiple accounts on Binance to conduct coordinated trading that artificially inflated TRX prices before tokens were sold onto retail investors.
“I am in possession of evidence showing that he used the identities and mobile phones of multiple employees to register numerous Binance accounts,”
She wrote, adding that she is willing to cooperate with the US Securities and Exchange Commission.
The claims echo allegations made by the SEC in a 2023 civil lawsuit accusing Sun and related entities of wash trading, artificial volume creation and generating about $31 million in illegal proceeds.
That enforcement action was stayed in February 2025, shortly after reports that Sun had invested heavily in Trump-linked crypto ventures including World Liberty Financial.
The pause drew criticism from US lawmakers, who warned the decision risked creating a “pay-to-play” perception around crypto enforcement and political influence.